HSBC Holdings plc Reiterates “Buy” Rating for Inchcape plc (INCH)
Inchcape plc (LON:INCH)‘s stock had its “buy” rating reissued by equities research analysts at HSBC Holdings plc in a report released on Friday. They currently have a GBX 1,030 ($13.45) target price on the stock. HSBC Holdings plc’s price objective would indicate a potential upside of 31.97% from the stock’s current price.
INCH has been the topic of a number of other research reports. BNP Paribas raised Inchcape plc to an “outperform” rating and upped their target price for the company from GBX 735 ($9.60) to GBX 1,050 ($13.71) in a research note on Monday, March 27th. Deutsche Bank AG upped their target price on Inchcape plc from GBX 920 ($12.01) to GBX 925 ($12.08) and gave the company a “buy” rating in a research note on Monday, July 10th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of GBX 875.33 ($11.43).
Inchcape plc (LON INCH) traded up 0.52% during midday trading on Friday, reaching GBX 780.50. The company’s stock had a trading volume of 759,517 shares. The company’s 50-day moving average is GBX 777.67 and its 200 day moving average is GBX 786.52. Inchcape plc has a 12-month low of GBX 587.00 and a 12-month high of GBX 861.00. The firm’s market cap is GBX 3.28 billion.
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In other Inchcape plc news, insider Till Vestring sold 25,000 shares of the company’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of GBX 845 ($11.03), for a total transaction of £211,250 ($275,855.31). Also, insider Nigel Stein bought 192 shares of the stock in a transaction on Thursday, June 1st. The shares were bought at an average price of GBX 819 ($10.69) per share, with a total value of £1,572.48 ($2,053.38).
Inchcape plc Company Profile
Inchcape plc is a United Kingdom-based automotive distributor and retailer. The Company operates in approximately 30 markets. The Company’s segments include Distribution, Retail and Central. The Distribution segment includes regions, such as Australasia, the United Kingdom and Europe, Asia, and Emerging Markets.
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